Indianapolis 500 payout reaches all-time high for fourth consecutive year

When Álex Palou of Chip Ganassi Racing won the Indianapolis 500 on Sunday for the first time in his career, he earned $3.8 million from a purse of $20,283,000 — the largest total purse of all time.

It also continued a trend of the Indianapolis 500’s total winnings reaching a new peak for the fourth consecutive year. This year’s average payout for INDYCAR drivers was $596,500, which also exceeded last year’s average of $543,000.

In 2024, the purse for “The Greatest Spectacle in Racing” was $18,456,000, and winner Josef Newgarden got a payout was $4.3 million, which included a $440,000 roll-over bonus from BorgWarner for earning back- to-back wins. 

In 2023, the purse was $17,021,500, and the winner, Newgarden, earned $3.7 million. In 2022, it was $16,000,200, and winner Marcus Ericsson earned $3.1 million. Prior to 2022, the largest Indy 500 purse was $14.4 million in 2008.

“The Indianapolis 500 is the greatest race in the world, and winning this race makes history in more ways than one,” INDYCAR and IMS president J. Douglas Boles said. “The Month of May featured a grandstand sellout crowd and intense on-track action. Àlex Palou adds Indianapolis 500 winner to his long list of growing achievements and takes home the largest purse in Indianapolis 500 history. There’s no better way to end an epic month.”

Pole-winner Robert Shwartzman of PREMA Racing earned Indianapolis 500 Rookie of the Year honors for his performance during the Month of May. Shwartzman earned a $50,000 bonus for being named Rookie of the Year, adding to a total take-home prize of $327,300.

The Indianapolis 500 purse consists of Indianapolis Motor Speedway and INDYCAR awards, plus other designated and special awards. Purse awards are presented annually at the Victory Celebration, which is being held this year at the JW Marriott in downtown Indianapolis on Monday night.

The 2025 INDYCAR season will continue with the Chevrolet Detroit Grand Prix on Sunday, June 1 on the streets of Downtown Detroit. The race will be broadcasted live on FOX and the INDYCAR Radio Network at 12:30 p.m. ET.

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